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White Mountain Income Dropped 93% In Quarter

The Hamilton, Bermuda-based company reported fourth-quarter net income fell $152.6 million, from $164.8 million, or $15.31 a share, to $12.2 million, or 86 cents a share. Revenues were off 18 percent,

By Mark E. Ruquet | Updated on February 03, 2006

White Mountains Insurance Group, Ltd., reported net income fell 93 percent in the fourth quarter based on the combination of hurricane losses, decrease in investment and reserve increase.

The Hamilton, Bermuda-based company reported fourth-quarter net income fell $152.6 million, from $164.8 million, or $15.31 a share, to $12.2 million, or 86 cents a share. Revenues were off 18 percent, or $222.5 million, from $1.25 billion to $1.03 billion.

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